illusory promise

   An agreement that is so indefinite that one cannot tell what is to be done or in which the performance is optional (e.g., a promise to stay in a job for a certain length of time, unless one resigns sooner). The other party to such an agreement cannot be held to obligations under it.

Business law dictionary. 2015.

Look at other dictionaries:

  • illusory promise — see promise Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. illusory promise n …   Law dictionary

  • Illusory promise — In contract law, an illusory promise is one that courts will not enforce. This is in contrast with a contract, which is a promise that courts will enforce. A promise may be illusory for a number of reasons. In common law countries this usually… …   Wikipedia

  • illusory promise — A promise so conditioned that the performance thereof is a matter of promisor s option, such promise not being sufficient as consideration for another promise. 17 Am J2d Contr § 105 …   Ballentine's law dictionary

  • promise — prom·ise n: a declaration or manifestation esp. in a contract of an intention to act or refrain from acting in a specified way that gives the party to whom it is made a right to expect its fulfillment aleatory promise: a promise (as to compensate …   Law dictionary

  • illusory — il·lu·so·ry /i lü sə rē, zə rē/ adj: likely to mislead or deceive: false deceptive an illusory plea bargain leading to a longer sentence than expected Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • illusory — /al(y)uwsariy/°uwz°/ Deceiving by false appearances; nominal, as distinguished from substantial; fallacious; illusive. Bolles v. Toledo Trust Co., 144 Ohio St. 195, 58 N.E.2d 381, 390 @ illusory appointment Nominal, overly restrictive or… …   Black's law dictionary

  • promise — A declaration which binds the person who makes it, either in honor, conscience, or law, to do or forbear a certain specific act, and which gives to the person to whom made a right to expect or claim the performance of some particular thing. A… …   Black's law dictionary

  • contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… …   Law dictionary

  • Consideration under American law — Contract law Part o …   Wikipedia

  • illusion — 01. The idea that if you work hard enough, you re sure to succeed is an [illusion]. Lots of people work hard all their lives without really getting ahead. 02. Mirrors on the walls give the room the [illusion] of being much bigger than it really… …   Grammatical examples in English

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